Ripple (XRP) altcoin, the world’s third-largest cryptocurrency has increased by 31 percent against the US dollar in a period of 48 hours. According to the coming altcoin news, the XRP to dollar exchange rate reached an intraday high of $0.405.
The XRP/USD exchange rate on Tuesday increased up to 25.05 percent when the market opened on the Luxembourg-based Bitstamp exchange. The pair dropped up to 5.05 percent during the European session in order to neutralize its overbought levels and found a support level at $0.384.
The sentiment came across the rest of the crypto index when almost all of the top cryptocurrencies reached surplus intraday gains. Bitcoin (BTC) extended its rally action and managed to establish a new 2019 peak towards $8,836. Ethereum on the other hand along with Bitcoin Cash and EOS also recorded double-digit gains over the 24 hours timeframe.
The crypto breakout action enhanced with a rise in trading volume which also confirmed the strong bullish sentiment on the market. Exchanges that support XRP-enabled pairs noted a $3.69 billion worth of buying and selling activity. In the same time, as reported in the best cryptocurrency news sites, the manipulated volume statistics shows that there is about $127 million value of trades over the past 24 hours.
The Ripple (XRP) altcoin was hinting its plan to extend its upside momentum and consolidated sideways while trading at $0.385. The gains of the altcoin are contributed to the confluence of positive fundaments in both outside and inside of the crypto market. The rise of trade tensions between China and the US seem to be influencing the sentiment as it appeared across the rest of the market.
The XRP asset found additional support from the Boerse Stuttgart. The second largest stock exchange launched two-exchange traded notes for Litecoin and XRP. Also, Boston-based asset management company Fidelity Investments announced the offering of XRP trading services to its institutional clients.
The buying sentiments improved for Ripple (XRP) at least in the past few days. They also served as major factors to drive the upside movement further which made it attractive for investors to build their positions. The Relative Strenght Index for Ripple (XRP) was above 70 which shows there is some overbought sentiment. This does not impact the bullish bias in the near-term which hints a downside correction.
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“The acceptance of Block.one’s tender offer reflected a decision to rebalance the portfolio to maintain an appropriate level of diversification after the position increased due to its substantial outperformance relative to the remainder of the portfolio,” Novogratz then said.As the filing shows, Galaxy Digital Bank can attribute much of this loss to its principal investing and trading businesses, presumably due to the fact that November and December saw Bitcoin and many other coins falling to fresh lows, as the altcoin news showed. The filing notes that Galaxy Digital Bank is primarily founded by Novogratz's wealth, 20% of which is purportedly invested in Bitcoin and Ethereum. Even though the company lost $272.7 million in all of 2018, much of the losses were incurred as a result of sale of cryptocurrency. One Twitter analyst also went in detail on this. https://twitter.com/zhusu/status/1126394118093950983 However, this is not the end of Novogratz & co. The report revealed that as 2018 ended, Galaxy Digital Bank owned $350 million of assets, 50% of which constituted equity/stake in prominent industry startups. More importantly, Galaxy Digital announced the launch of another fund (rumored with hundreds of millions in funding) which will loan out capital to cryptocurrency firms - a business which has boomed during the 2018 bear market - as the latest cryptocurrency news show.
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“BSV doubled on Craig’s copyright news. This is only the start of him proving BSV is the only bitcoin. Now is a great time to convert all your other shite coins to Bitcoin.”However, as reported in the latest cryptocurrency news, the copyright does not entitle Craig Wright with any exclusive rights on Bitcoin. It seems as the big pockets are pouring and pumping the Bitcoin SV market to confirm the ‘’we-are-the-best’’ slogan. A massive 200 price surge is one of the reasons why traders should restrain themselves from buying the high or the lower lows. The Bitcoin SV (BSV) price corrected up to 53 percent before establishing a historic high at $195 on Huobi. The market bias is currently bullish and the majority of the technical indicators signal the strong buying sentiment. With the flawed fundamentals, a dump right now should not surprise the market.
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